Geely-owned Volvo Cars has reported a 12% decline in global sales for May, with a total of 59,822 cars sold during the period.
This downturn is compared to the same period last year, indicating a significant shift in the company’s sales dynamics.
Go deeper with GlobalData
Electrified models, which include fully electric and plug-in hybrid cars, constituted 44% of the total sales for May, yet they experienced a 20% decrease from the previous year.
Fully electric cars made up 21% of the total sales, while plug-in hybrids accounted for 23%.
The XC60 emerged as the top-selling model with 19,408 units, followed by the XC40/EX40 at 14,892 cars, and the XC90 at 8,794 cars.
Sales of mild hybrids and internal combustion engine vehicles reached 33,478 units in May, marking a 5% year-over-year decline.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe sales of fully electric vehicles saw a significant 27% annual drop, with 12,391 units sold, and plug-in hybrid deliveries fell by 11% to 13,953 cars compared to the same period a year earlier.
In the first five months of 2025, Volvo Cars sold 290,922 units, which is an 8% decrease year-on-year.
In April, figures had already shown a downward trend, with a 10% drop in global sales for March 2025, primarily due to reduced sales of fully electric vehicles.
The company sold 70,737 cars, compared to the same month in the previous year.
Also, Volvo Group, the parent company, also reported a 7% drop in net sales to Skr121.8bn ($12.65bn) for the first quarter of 2025, ending on 31 March, down from Skr131.2bn in the same period last year.
Sales declined across all regions and segments, with the exception of buses.
Both adjusted and reported operating income for Q1 2025 stood at Skr13.25bn, a decrease from Skr18.15bn in Q1 2024.
